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Voluntary reposession of a home - anyone got any experience ?
Hi All, Bought our home 2 years ago and never missed a mortgage payment although our finances are really bad at the moment. We have got no savings whatsoever. The tip of the iceberg is that my wife’s mom been diagnosed with a terminal illness and she lives abroad, it seems like my wife is adamant to go and take care of…
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Lump Sum Payment Interview
Hi all. I have a mortgage with the Co-Op Bank. I want to make a fairly significant lump sum payment to reduce the capital. Co-Op are telling me I need to have a 2 1/2 hour interview with a Mortgage Advisor! Is this normal and is there anything I need to be wary of? Thanks v much.
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Can Three People Own a House - But Only One Needs a Mortgage
Just as the title says really, can three people be on the deeds for a house, but only one has a mortgage? Say, in my case, the house is £450,000, two of us have £150,000 each, and the third doesn't. Can she get a mortgage for her share alone and it not be in our names (understandably the mortgage would be secured against…
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What are my options?
We are looking to downside considerably next summer and become mortgage free, it is possible that we might need another year based on how market is in 8-9 months time, how soon we get a decent offer and also personally we work things out to put the house on market. We can't sell any earlier than July next year because of…
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650k 95% LTV?
Hi all, I'm looking to buy with my partner in about 6 months time. For various reasons we don't have that much deposit relative to our income, and some debt. I'm aware we could continue to save for 10% in a reasonable amount of time, I'd just like to know if a 95% mortgage is an option, particularly for a property over…
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Mortgage Calculator with HomeBuy scheme
Hi, My mortgage renewal is due in November and the financial adviser company doing the search for me has found the best deal to be with my current provider (NatWest) at 5%. This is a 3.2% hike. She says that because I have a 20% HomeBuy scheme when I bought the house, there are no lenders who will give a better rate. Is it…
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Should I pay off the Mortgage?
Hi, So I have two separate mortgages. One from my original house purchase (A) and the second one to cover the extra for when we moved home (B). Mortgage (A) is an old Nationwide one and has many benefits incl overpayments/borrow back with no extra charge. This is on a 6.75% interest rate so we have been steadily chipping…
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Mortgage advice pls.
Hi. I own a third of a property. I wish to buy a person out of their share which would mean I own two thirds. Can you point me to a provider that would allow me to do this along with some sort of calculator. The sum I would be borrowing is between 60-75k.
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Higher initial payment on remortgage wipes out savings from switching?
I'm currently looking to remortgage as my 2 year fixed term
is coming to an end. My current lender has offered me another 2 year fixed deal
at 5.19% and my mortgage broker has suggested that I switch to a different
lender that has a lower 5.04% fixed 2 year deal. The reduction in interest rate
will save me around £400 over…
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Notice of Correction Password - Halifax
Good evening! I submitted a mortgage application with Halifax via a mortgage advisor on Monday. Valuation was completed today. The broker was contacted by Halifax to ask about a lock/password on my credit file (I was a victim of ID Fraud last year - very stressful!). It can take up to 28 days to get this removed but I have…
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Second credit check after mortgage offer
Hi does anyone know if TML does a second credit check after offer pre exchange / completion please
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Having debts while saving a house deposit??
I'm currently saving hard and very focused on trying to get the funds saved to make a house deposit so I can get on the housing ladder. I have about 6K saved so far but also have about 6K of debt on a credit card (currently on a 0% offer). I know normally the best advice is to always pay off debts but I'm assuming when…
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Barclays overpayment vs part redemption
Hi All, This is just an FYI - I have been chatting to Barclays about over paying my mortgage. Apparently there are two types: overpayment and part redemption. The overpayment is limited to 3x the monthly repayment amount and goes towards reducing the term. The part redemption allows up to 10% of the outstanding balance per…
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Two mortages - one property
Hi We have a larger and smaller mortgage on our property, and the larger one is coming to the end of the fixed rate. I have been told that to change the mortage the smaller one will become the first mortgage and the new one will become the second. To sort this out we have been advised we will need a solicitor, does anypne…
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5 yrs or 2 yr fix following rate drop this morning?
I'm going through an application with Barclays at the moment for a 2 year fixed rate, now at 4.43%. Wondering whether it's worth fixing for 2 years now or if I'd be better going for the better rate of the 5 year fix.
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Solicitor paid early redemption fee by error
Hi, I hope someone can shed some light on how to best solve my issue. We ported our mortgage with Natwest to our new house, we recently completed. With the porting, we do not need to pay early repayment charges (this is 1000% sure, this was confirmed by Natwest). We also raised a little additional mortgage to cover the…
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(Im)patiently waiting.....
Today is the one week anniversary since the in person house valuation happened 🎉😂 Excuse to eat some cake 🤔😁 Not that I need an excuse tbf 😂 I have to be the 'yhea, these things take a while' to hubby as he's worried that the NatWest mortgage tracker just says mortgage valuation in progress, and no dates about it being…
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unencumbered remortgage
Hi, I own a property without a mortgage and currently have a long term tenant. I would like to get a small mortgage to raise funds to buy a static caravan. Is this possible and what are the best lender?
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Declined Equity Release
Good afternoon all, My wife and I are 70 & 68 years old respectively and both retired. Our current predicament is that our mortgage term ended earlier this year leaving us with a £60,000 shortfall and we had decided long ago that we would go the equity release route to pay the shortfall off and a little extra for home…
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what happens with the mortgage when the sale falls through?
I managed to get a mortgage offer by Barclays but the flat sale fell through. My mortgage broker advised me to leave the mortgage as it is and when I find a new flat, she will submit a mortgage modification. I am wondering if that's the right approach. I got the mortgage offer 4 days ago. Will it be better to cancel it and…
